SABIC Saudi Arabia has begun marketing bonds worth one billion dollars in two tranches for 10 and 30 years.
According to Reuters, SABIC will issue $ 500 million in ordinary bonds for 10 years.
and SABIC markets these bonds at a indicative price of 190 basis points above the US Treasury bond prices.
The second tranche of Formosa’s 30-year bond comes at 3.375%, worth $ 500 million.
The Saudi Basic Industries Corporation (SABIC) announced the preliminary financial results for the second quarter of this year, achieving losses of 2.22 billion riyals, compared to 2.03 billion riyals Earnings for the same period last year.
This comes after the company's revenues fell by 29.5% to 24.62 billion riyals.
During the first half of this year, the company achieved 3.27 million riyals in losses, compared to 5.35 billion riyals in profits for the same period last year.
(Amazon fun knowledge)
